property and casualty exam (150 questions) With 100% correct answers

The Commercial Property policy applies a limit of what dollar amount for business personal property temporarily away from the premises? correct answers $10,000 What is the name of the organization created to provide auto insurance to individuals who have been unable to obtain it through the private market? correct answers The Connecticut Automobile Insurance Assigned Risk Plan Which term describes the situation when two policies covering the same property contain different policy periods? correct answers Nonconcurrency Which of the following is true about an aggregate limit? correct answers It applies to losses from all occurrences within a specified policy period Which of the following is not true about medical payments under the Personal Auto Policy? correct answers Coverage applies only for medical expenses incurred within one year of the accident Section II of the Garage Coverage Form does not cover: correct answers Damage to the customer's car in the insured's care Policyholder J has a no-fault auto policy. Upon being hit by a driver that ran a stop light, J suffers a broken leg. Whose insurance company will pay for J's injury? correct answers J's insurer Which of the following is correct about aircraft liability insurance? correct answers A passenger may be covered by a sublimit All the following terms describe a loss covered by a commercial crime policy, except: correct answers Mysterious disappearance Which of the following losses would not be covered under a NFIP policy? correct answers A water main in the street breaks, flooding the insured's basement The BOP policy provides the same liability coverage as which of the following policies? correct answers Commercial General Liability Which of the following best describes the Debris Removal coverage under the Homeowners policy? correct answers The policy will pay the insured for removing debris from a covered loss B is traveling to Europe for a month's vacation. Which of the following coverages might her agent recommend to cover personal items? correct answers Personal effects floater